Munich Personal RePEc Archive

Time Spent for Education – A Key Resource in the Social and Economic Development

Istrate, Georgeta-Marinela and Caragea, Nicoleta (2011): Time Spent for Education – A Key Resource in the Social and Economic Development. Published in: SSRN (1 June 2011)

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Abstract

Education - in every sense - is one of the fundamental factors of development. It provides a foundation for the economic and social wellbeing. Time spent in education is the key to increasing economic efficiency and social consistency. Of all the resources, time is the most valued and it can be used most effectively. No country can achieve sustainable economic development without substantial investment in human capital. Education improves the quality of people’s lives and leads to broad social benefits to individuals and society. According to Gary S. Becker theory of time allocation, in this paper it is investigated some of the aspects concerning the relation between social and economical increasing and investments in human capital trough the role of time spent by Romanian people in education, training and other educational activities. Data used in this paper are generally provided by the time use survey.

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